Turkish manufacturing PMI tops threshold level in June

By Tuba Sahin

ANKARA (AA) - Turkey’s Purchasing Managers’ Index (PMI) for the manufacturing sector climbed above the threshold level in June after declining in the previous month, according to figures released on Thursday.

The index hit 51.3 in June, up from 49.3 in May, showed the IHS Markit’s monthly PMI report prepared in collaboration with the Istanbul Chamber of Industry.

The reading indicates a return to growth in the Turkish manufacturing sector as both output and new orders increase amid a relaxation of COVID-19 restrictions, the report said.

New business from abroad expanded at the fastest pace since January, while the rate of job creation also increased, it added.

As some firms reported difficulties securing raw materials, stocks of purchases continued to fall, despite a return to growth of input buying, the report said.